Office Unit with Covered
For Sale
$530,000
1607 Ponce De Leon Blvd, Coral Gables, FL 33134
North- and west-facing windows provide abundant natural light in a professionally configured office suite.
Property Size974 SF
Price / SF$544.15
Days on Market59
Property Features for 1607 Ponce De Leon Blvd
General Information
Standard status
Active
Size
974 SF
Total Parking Spaces
3
Property subtype
General Commercial
Additional Details
Floor
2
Taxes and HOA fees
Annual Taxes
$8,047
Amenities
concierge services
24 hour security system
3
3 Parking Spaces.
Building Details
Year Built
2008
Tenancy
Multi
Listing Agency:
RE/MAX United Realty
(786) 347-8250
Listed By:
Matilde Aguirre · License #0364522
(786) 347-8250
Source:
Xome
Added: Jun 15
Changed: Aug 12
Last Checked: Aug 12 at 5:20AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX United Realty
Investment Insights
Based on property information with market context.
This 974-square-foot office unit is located on the second floor of The Ponce de Leon Condominium, a mixed-use building completed in 2008. The layout includes two private offices, a generously sized bullpen with cabinetry, and a kitchen equipped with a built-in microwave. Wall-to-wall windows along the north and west exposures bring natural light throughout the suite.
The property includes 3 covered and gated parking spaces, a 24-hour security system, and concierge services. The second floor contains 9 commercial offices. The building is at 1607 Ponce De Leon Blvd in Coral Gables, 3.3 miles and approximately 10 minutes from Miami International Airport.
The property includes 3 covered and gated parking spaces, a 24-hour security system, and concierge services. The second floor contains 9 commercial offices. The building is at 1607 Ponce De Leon Blvd in Coral Gables, 3.3 miles and approximately 10 minutes from Miami International Airport.
Key Highlights
- 974‑square‑foot office unit with two private offices and a large bullpen area
- Wall‑to‑wall windows facing north and west provide extensive natural light
- Kitchen includes a built‑in microwave for staff meals and breaks
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,816
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$516,320
$516.3K
Cap Rate 7%
$368,800
$368.8K
Cap Rate 9%
$286,844
$286.8K
Market Conditions
NOI Build-Up for 974 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$44.4K $45.60/SF
− Vacancy
−$10.0K −$10.26/SF
EGI
$34.4K $35.34/SF
− OpEx
−$8.6K −$8.84/SF
NOI
$25.8K $26.51/SF
Area
Miami-Dade County, FL
Vacancy
22.50%
Lease Rate
$45.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$516,320
Cap Rate 7%
$368,800
Cap Rate 9%
$286,844
Alternative Uses
Best Use
Office B
$368.8K
$322.7K – $430.3K
NOI $25,816 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$494.2K
$432.4K – $576.5K
NOI $34,591 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8,418
Businesses Nearby
Explore this area
Business Placement
Demographics for 33134, FL
38,739
Population
18,136
Households
2.1
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
5.2 sq mi
ZIP Area
7,450
Density / Sq Mi
$92,009
Median Household Income
$56,392
Median Earnings
$1,818
Median Rent
$660,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - North- and west-facing windows provide abundant natural light in a professionally configured office suite.
Where is this office units located?
The property is located at 1607 Ponce De Leon Blvd Coral Gables, FL.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: 974‑square‑foot office unit with two private offices and a large bullpen area; Wall‑to‑wall windows facing north and west provide extensive natural light; Kitchen includes a built‑in microwave for staff meals and breaks
